Altimmune (NASDAQ:ALT) Stock Price Down 5.4% – Here’s What Happened

Altimmune, Inc. (NASDAQ:ALT)’s stock price was down 5.4% on Monday . The stock traded as low as $7.13 and last traded at $7.20. Approximately 623,008 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,857,509 shares. The stock had previously closed at $7.61.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALT. B. Riley reissued a “buy” rating and issued a $20.00 price objective on shares of Altimmune in a research report on Monday, August 12th. Evercore ISI upgraded Altimmune to a “strong-buy” rating in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Altimmune in a research note on Thursday. Finally, UBS Group started coverage on Altimmune in a report on Tuesday, November 12th. They set a “buy” rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.

Altimmune Price Performance

The company has a market cap of $494.28 million, a price-to-earnings ratio of -4.48 and a beta of 0.09. The business’s fifty day moving average price is $7.02 and its 200 day moving average price is $6.91.

Altimmune (NASDAQ:ALT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.03. The company had revenue of $0.01 million during the quarter. Altimmune had a negative return on equity of 55.81% and a negative net margin of 199,076.92%. During the same period in the previous year, the company posted ($0.39) EPS. As a group, equities research analysts anticipate that Altimmune, Inc. will post -1.36 EPS for the current year.

Institutional Investors Weigh In On Altimmune

Several large investors have recently modified their holdings of ALT. Mirae Asset Global Investments Co. Ltd. bought a new stake in Altimmune during the first quarter valued at $271,000. BNP Paribas Financial Markets grew its stake in Altimmune by 154.0% during the first quarter. BNP Paribas Financial Markets now owns 32,425 shares of the company’s stock worth $330,000 after purchasing an additional 19,661 shares during the period. SG Americas Securities LLC lifted its stake in Altimmune by 68.3% in the first quarter. SG Americas Securities LLC now owns 39,603 shares of the company’s stock valued at $403,000 after buying an additional 16,078 shares during the period. Swiss National Bank bought a new position in shares of Altimmune during the 1st quarter worth approximately $1,079,000. Finally, Sei Investments Co. acquired a new stake in shares of Altimmune during the 1st quarter worth approximately $479,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.

About Altimmune

Altimmune, Inc, a clinical stage biopharmaceutical company, focuses on developing treatments for obesity and liver diseases. The company's lead product candidate, pemvidutide, a GLP-1/glucagon dual receptor agonist that is in Phase 2 trial for the treatment of obesity and metabolic dysfunction-associated steatohepatitis.